Saratoga Investment (NYSE:SAR) Issues Earnings Results, Beats Estimates By $0.79 EPS

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Saratoga Investment (NYSE:SAR) released its earnings results on Thursday, January 9th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.79, Fidelity Earnings reports. The company had revenue of $14.20 million during the quarter, compared to analyst estimates of $14.17 million. Saratoga Investment had a net margin of 68.38% and a return on equity of 9.77%.

NYSE SAR traded up $0.32 during trading on Thursday, hitting $27.98. The company’s stock had a trading volume of 1,226 shares, compared to its average volume of 90,395. The company has a market cap of $309.24 million, a PE ratio of 10.64 and a beta of 0.65. The business’s 50 day simple moving average is $25.40 and its 200-day simple moving average is $24.97. Saratoga Investment has a fifty-two week low of $21.67 and a fifty-two week high of $27.79.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Shareholders of record on Friday, January 24th will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 8.01%. The ex-dividend date of this dividend is Thursday, January 23rd. Saratoga Investment’s dividend payout ratio is presently 85.17%.

In other news, insider (Tony) Kiernan Anthony bought 20,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average price of $3.07 per share, with a total value of $61,360.00. 20.90% of the stock is currently owned by company insiders.

A number of equities research analysts have issued reports on SAR shares. Maxim Group reaffirmed a “buy” rating and set a $29.00 price objective on shares of Saratoga Investment in a report on Thursday, January 9th. Zacks Investment Research lowered shares of Saratoga Investment from a “hold” rating to a “strong sell” rating in a report on Thursday. ValuEngine lowered shares of Saratoga Investment from a “hold” rating to a “sell” rating in a report on Friday, January 10th. Compass Point raised shares of Saratoga Investment from a “neutral” rating to a “buy” rating and set a $27.75 price objective for the company in a report on Thursday, January 9th. Finally, National Securities initiated coverage on shares of Saratoga Investment in a report on Thursday, December 19th. They set a “neutral” rating and a $26.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. Saratoga Investment currently has a consensus rating of “Hold” and an average target price of $26.68.

About Saratoga Investment

Saratoga Investment Corp. is a business development company specializing in leveraged and management buyouts, acquisition financings, growth financings, recapitalization, debt refinancing, and transitional financing transactions at the lower end of middle market companies. It structures its investments as debt and equity by investing through first and second lien loans, mezzanine debt, co-investments, select high yield bonds, senior secured bonds, unsecured bonds, and preferred and common equity.

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Earnings History for Saratoga Investment (NYSE:SAR)

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